Assuming gasoline and oil to be complementary goods, the effect on the oil market of an increase in the price of gasoline (other things being equal) would best be described as a(n):

Question

Quizplus · Accepted Answer

When the price of gasoline increases, the demand for its complementary good, oil, decreases because consumers are less likely to purchase both goods together.

Assuming Gasoline and Oil to Be Complementary Goods, the Effect